Mounting financial strain and falling international cocoa prices have forced the government to slash the crop’s producer price for the remainder of the season, a move officials say is aimed at stabilising the sector while preserving farmer earnings.
At a press briefing in Accra on Thursday, February 12, 2026, Finance Minister Dr Cassiel Ato Forson announced that cocoa will now sell at GH¢41,392 per tonne and GH¢2,587 per bag until the close of the 2025/2026 season. He indicated that the revision follows a steep downturn in global prices alongside growing liquidity constraints within the industry.
Dr Forson recounted that the season opened in August 2025 with farmers receiving GH¢51,660 per tonne. That figure was based on 70 per cent of a gross free-on-board value of 7,200 US dollars per tonne, calculated using an exchange rate of 10.25 cedis to the dollar.
Market developments later forced a reassessment. After Côte d’Ivoire unveiled a higher producer price in October 2025, combined with exchange rate fluctuations, Ghana raised its farm gate price to GH¢58,000 per tonne, equivalent to GH¢3,625 per bag. Authorities said the adjustment was designed to discourage cross-border cocoa smuggling.
“The decision by the PPLC to increase the producer price of cocoa made Ghana’s farm gate price competitive and stemmed the potential smuggling of our cocoa beans,” Dr Forson recalled.
However, global conditions soon shifted. The minister explained that cocoa prices began weakening from October 2025 and have steadily declined since then. “From October 2025, unfortunately, the world market price of cocoa started dropping,” he said, noting that prices have slid from an average of 7,200 dollars per tonne to roughly 4,100 dollars per tonne.
The slump, he noted, left Ghanaian cocoa priced above competitors while worsening cash flow difficulties for COCOBOD. “The world market price has dropped significantly from the average of 7,200 tones to 4,100 per tone, making Ghana’s cocoa beans uncompetitive and creating liquidity challenges,” he stated.
In response, the Producer Price Review Committee reconvened under Dr Forson’s leadership to evaluate pricing for the remaining months of the crop year.
“In order to cushion the farmer, the PPLC has recommended that the farmer be paid 90% of the achieved gross FOB of 4,200 US dollars per ton to mitigate the adverse impact on the farmer as a result of the fall in the world market price,” Dr Forson announced.
He then confirmed the revised figures. “As a result of that, the PPLC thereby announces that effective today, Thursday, 12 February 2026, the new producer price for the remainder of the 2025-2026 crop season will now be 41,392 Ghana cedis per ton and 2,587 Ghana cedis per bag.”
The new rate means farmers will earn GH¢2,587 for each 64-kilogramme bag, representing a cut of GH¢16,608 per tonne and GH¢1,038 per bag from the October 2025 pricing structure.
According to Dr Forson, the decision was unavoidable to maintain industry stability. “This measure has become necessary to reflect the reality of the world market price of cocoa, ensure the injection of immediate liquidity for expedited payment of farmers and guarantee the sustainability of our cocoa sector,” he explained.
He emphasised that despite the reduction, authorities chose to maintain a 90 per cent producer share of export revenue, exceeding the statutory minimum requirement of 70 per cent.
Closing the briefing, the minister acknowledged the challenges farmers continue to face but expressed optimism about ongoing reforms. “Government wishes to convey its sincere appreciation to the Ghanaian cocoa farmer and all stakeholders for their forbearance and sacrifice over the years,” he said. “I wish to assure them that these reforms will protect the interest of the cocoa farmer and the cocoa sector. In fact, we strongly believe this will transform the industry.”
